Real estate is usually about "Location, Location, Location." In the industrial world, it is about "Zoning, Zoning, Zoning."
You can have the best location in the world—right next to an I-85 interchange—but if the city council has rezoned it for "Mixed Use" or "Light Commercial," your logistics business is dead on arrival.
In the Upstate, we are seeing a massive wave of NIMBYism (Not In My Back Yard). Residents want Amazon packages delivered in 2 hours, but they don't want the delivery vans parked next to their subdivision.
The Down-Zone
Counties are actively removing "Heavy Industrial" designations from comprehensive plans. They are replacing them with "Service" or "Commercial" zones that ban outdoor storage, heavy equipment, and manufacturing.
The Monopoly
If you own a site that is already zoned I-2 and has an active use permit, you have a legal monopoly. The city cannot take it away (Grandfather Clause). You own the only game in town.
The "Unbuildable" Asset
We look for sites that look "ugly" to the average investor but look like gold to an operator.
- An old laydown yard with a 1970s metal building.
- A truck repair shop with a non-conforming use permit.
- A gravel lot with a heavy industrial overlay.
Why? Because you cannot build these anymore.
If a developer tries to permit a new truck terminal in Anderson County today, they will face: 1. Neighborhood opposition meetings. 2. Traffic impact studies. 3. Visual screening requirements (expensive berms/fences). 4. A 12-24 month entitlement risk.
Or... they can lease our existing site today.
The Spearhead Strategy
We buy the entitlement, not just the building. We audit the zoning map to find the "islands" of Heavy Industrial sea in a sea of residential encroachment.
These sites command a premium because supply is legally capped at zero (or negative) growth. When supply is fixed and demand (logistics) is growing, prices only go one way.
